Eric Levenstein

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Director, Head of Insolvency, Business Rescue & Restructuring practice

Location: Johannesburg

Tel: +27 11 535 8237

Fax: +27 11 535 8737



Eric Levenstein has been a director of Werksmans Attorneys since 1993 and is the head of the firm’s Insolvency, Business Rescue & Restructuring practice. He specialises in litigation and dispute resolution with a particular focus on business rescue, insolvency and restructuring, banking and finance and corporate recovery of debt. His expertise extends to director liability issues. He regularly delivers seminars and writes for various publications on these topics among others. He is the Chairperson of the South African Restructuring & Insolvency Practitioners Association (SARIPA) and sits on the board of INSOL International, a worldwide group of insolvency practitioners. Eric has BCom and LLB degrees, Higher Diplomas in Company Law and Tax, a Diploma in Insolvency Law and a Doctorate of Laws in Business Rescue.

  • Dispute Resolution
  • Insolvency, Business Rescue, & Restructuring
  • Intellectual Property
  • Insolvency, Business Rescue & Restructuring
  • Dispute Resolution
  • Intellectual Property
  • Represented a large group of foreign creditors (noteholders) in the business rescue proceedings of Southgold Exploration (Pty) Limited.
  • Advised a consortium of international lenders (UK) in connection with finance and restructuring advice of Lonmin (mining) and Edcon (retail).
  • Advised on the insolvency of Nortel Networks (UK) (multi-national telecommunications) in respect of its South African subsidiary.
  • Advised the foreign trustees of SunEdison Inc in respect of the local wind down of their South African subsidiaries.
  • Advised Nedbank, a major creditor of Stuttafords (retail) in the course of its business rescue proceedings.
  • Advised the directors and shareholders of South African Calcium Carbide in respect of its business rescue proceedings. 
  • Advisor to the business rescue practitioners of Basil Read and Group Five (construction).
  • Advisor to Standard Bank in respect of its exposure to CMC Ravenna (Italian)
  • Advisor to various stakeholders in the business rescue proceedings of South African Airways (SAA).
  • Represents a major foreign conglomerate in the IT Industry in respect of major litigation in the South African Court.
  • Advisor to Standard Bank, Investec Bank and Absa Bank in respect of the recovery of corporate debt exposure in various financially distressed companies.
  • Advising directors, shareholders, creditors and business rescue practitioners on their rights in business rescue proceedings.
  • Advising foreign and local clients in respect of the effect that the business rescue legislation will have on securities held by such clients in various companies filing for business rescue proceedings.
  • Represented various shareholders and directors in respect of disputes involving corporate governance and liability issues.
  • Advising numerous clients as to the impact of the insolvent trading provisions of the Companies Act on the personal liability of directors.
  • BCom, University of KwaZulu-Natal (1984)
  • LLB, University of the Witwatersrand (1986)
  • Higher Diploma in Company Law, University of the Witwatersrand (1991)
  • Higher Diploma in Tax, University of the Witwatersrand (1993)
  • Diploma in Insolvency Law, University of Johannesburg (1997)
  • LLD – Doctorate of Laws – Business Rescue, University of Pretoria (2016)
  • Appointed Chairman of The South African Restructuring and Insolvency Practitioners Association (SARIPA) in January 2019.
  • Member of SARIPA's Business Rescue Liaison Committee.
  • Appointed Board Member of INSOL International (a worldwide group of Insolvency Practitioners (INSOL)) for a period of two years (November 2018 to November 2021).
  • Appointed Chairman of the INSOL Small Practice Members Issues Committee for a period of two years (June 2017 to June 2019). The committee is a working group of international lawyers, accountants and insolvency practitioners with a focus on cutting edge issues involving insolvency, rescue and liquidation issues.
  • Recognised in international rating publications as a:
    • leading lawyer in Restructuring / Insolvency by Chambers Global: The World's Leading Lawyers for Business (2017 - 2020 – Band 1);
    • leading insolvency and restructuring lawyer by Who's Who Legal – Insolvency and Restructuring (2014, 2016 - 2020);
    • ranked by Best Lawyers in Insovency and Reorganisation law (2019 and 2020);
    • highly recommended lawyer in Dispute Resolution (Business Rescue) by The Legal500 (2012 ; 2017 and 2020); and
    • recommended lawyer in restructuring and insolvency by PLC Which Lawyer (2013);
  • Has given numerous presentations on insolvency, business rescue and directors liability.
  • Regular contributor to the media on the effect of business rescue on companies and creditors, insolvency and directors liability.
  • Author of South African Business Rescue Procedure (published in October 2017 by Lexis Nexis).